Sherrill & Hutchins Financial Advisory Inc Has $613,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Sherrill & Hutchins Financial Advisory Inc cut its position in Tesla, Inc. (NASDAQ:TSLA) by 50.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,517 shares of the electric vehicle producer’s stock after selling 1,541 shares during the quarter. Tesla accounts for about 0.5% of Sherrill & Hutchins Financial Advisory Inc’s holdings, making the stock its 7th biggest holding. Sherrill & Hutchins Financial Advisory Inc’s holdings in Tesla were worth $613,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Connable Office Inc. raised its position in Tesla by 0.3% in the third quarter. Connable Office Inc. now owns 12,872 shares of the electric vehicle producer’s stock valued at $3,368,000 after purchasing an additional 38 shares during the last quarter. Community Bank N.A. raised its position in shares of Tesla by 4.4% during the third quarter. Community Bank N.A. now owns 908 shares of the electric vehicle producer’s stock worth $238,000 after acquiring an additional 38 shares during the last quarter. Holistic Financial Partners raised its position in shares of Tesla by 1.0% during the third quarter. Holistic Financial Partners now owns 4,055 shares of the electric vehicle producer’s stock worth $1,061,000 after acquiring an additional 40 shares during the last quarter. Altman Advisors Inc. raised its position in shares of Tesla by 0.4% during the third quarter. Altman Advisors Inc. now owns 10,754 shares of the electric vehicle producer’s stock worth $2,814,000 after acquiring an additional 43 shares during the last quarter. Finally, Essex Savings Bank raised its position in shares of Tesla by 1.4% during the third quarter. Essex Savings Bank now owns 3,128 shares of the electric vehicle producer’s stock worth $818,000 after acquiring an additional 44 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TSLA. Canaccord Genuity Group raised their price objective on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Stifel Nicolaus raised their price objective on Tesla from $411.00 to $492.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Roth Mkm upgraded Tesla from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $85.00 to $380.00 in a research report on Monday, December 2nd. Guggenheim lifted their target price on Tesla from $156.00 to $175.00 and gave the stock a “sell” rating in a report on Thursday, December 5th. Finally, Wedbush reiterated an “outperform” rating and issued a $400.00 target price on shares of Tesla in a report on Monday, November 18th. Nine analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $299.33.

Tesla Stock Up 8.0 %

Shares of NASDAQ:TSLA opened at $428.22 on Thursday. The business’s 50 day moving average is $382.71 and its 200 day moving average is $284.69. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54. The stock has a market cap of $1.37 trillion, a price-to-earnings ratio of 117.32, a PEG ratio of 10.80 and a beta of 2.30.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts forecast that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now directly owns 105,032 shares in the company, valued at $26,442,856.32. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $250.23, for a total value of $15,138,915.00. Following the completion of the sale, the director now owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 621,886 shares of company stock valued at $213,451,751. Insiders own 20.70% of the company’s stock.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.